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View Full Version : IMF to China: ease exchange rate controls



Silverbird
02-15-2008, 09:32 AM
"What I am working at is trying to explain to Chinese authorities... that it's in their own interests to have more flexible exchange rates," Strauss-Kahn said. He said that would "help to address both China's economic challenges and global imbalances."

Beijing's trading partners complain that China's currency, the yuan, is kept undervalued, giving an unfair price advantage to Chinese exporters and adding to the country's swollen trade surplus.

http://money.cnn.com/2008/02/15/news/economy/bc.apfn.as.fin.china.imf.ap/index.htm?postversion=2008021507

Ouch, yes they are saying let the dollar drop, ahem.